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Private Lending & Conventional Mortgage Advice

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Aaron Sardinha
Pro Member
  • Rental Property Investor
  • Somerset, MA
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19
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Trying to refinance a multi family in rural area with no comps

Aaron Sardinha
Pro Member
  • Rental Property Investor
  • Somerset, MA
Posted Feb 20 2019, 13:38

We have a 7 unit commercial multi family located in West Enfield, ME. We own it free and clear and would like to cash out refinance it in order to purchase more properties.

We have tried on a few occasions only to be told that there are no other properties like it in the area making it impossible to determine the value. We have been told to try the local credit union that they may be able to help us. We will be applying to the local credit union next. Since recently discovering the bigger pockets forum, I wanted to share our situation to see if anyone has any other ideas

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